Reports
Reports
Sale
The global retail market size reached approximately USD 23 trillion in 2023. The market is expected to further witness a healthy growth in the forecast period of 2024-2032.
Retail refers to the process of selling consumer goods or services through various channels of distribution to satisfy the demand of consumers. The retail industry is one of the largest private employers, generating 42 million jobs in the United States. Retail stores are ubiquitous for connecting manufactured goods to end customers and play a significant role in a country’s economy.
The retail market demand is being driven by factors like rising disposable incomes, rapid digital transformation, and investments in cutting-edge technologies. With evolving customer behaviours, growing smartphone penetration, and increasing focus on meeting the demands of tech-savvy Gen-Z population, retailers are expanding their presence in mobile commerce. Trends such as one-click ordering, the emergence of voice shopping and chatbots, and the growing popularity of mobile wallet payments are also bolstering the popularity of mobile commerce stores. Besides, the growing popularity of social media platforms like Facebook, TikTok and Instagram, among others, is prompting retailers to use such channels to reach potential customers and sell their products.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Evolving customer sentiments, omnichannel retail, and technological advancements are the major trends impacting the retail market growth
Oct 18th, 2023
Amazon announced its plans to launch online shopping services in South Africa to support independent retailers to launch, scale, and grow their businesses.
Aug 16th, 2023
Gucci announced a digital partnership with JD.com to launch its digital flagship store, offering the former’s brand services and exceptional customer services.
May 4th, 2023
Auchan Retail partnered with Israel-based Trigo to launch an autonomous grocery store in France, providing a tap-and-go experience to shoppers.
Mar 3rd, 2023
Walmart announced its plans to add over 28 healthcare centres inside its Walmart Supercenters by 2024 to offer services like dental care and value-based care, among others.
Rapid urbanisation and evolving customer sentiment
Factors like rapid urbanisation, growing disposable incomes, and evolving customer sentiment are positively impacting the market for retail.
The emergence of omnichannel retail
There is a rising trend of omnichannel retail amid customer demand for seamless and flexible shopping experiences among both physical and digital touchpoints.
The growing trend of sustainability
Growing commitment to sustainability is prompting retailers to introduce initiatives like in-store recycling, renewable energy adoption, and circular economy practices, among others.
Technological advancements and innovations
Advanced technologies such as the IoT, AI, AR, VR, and automation are expected to revolutionise the retail sector, enhancing operational efficiency and offering customised product recommendations.
One of the key factors influencing the retail market expansion is the rising demand for immersive and personalised in-store and online shopping experiences by customers. Retailers are investing in technologies like data analytics, machine learning, and automation to hyper-personalise shopping experiences, predict customer behaviour and preferences, and enhance the efficiency of inventory management, warehousing, and order fulfillment, among others.
Moreover, with the growing trend of sustainability in the retail sector, retailers are attempting to reduce their carbon footprints by adopting eco-friendly practices and promoting environmental stewardship. Technologies like blockchain and IoT are also adopted by retailers to reduce waste, optimise energy, and drive sustainability.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
“Retail Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Market Breakup by Sector
Market Breakup by Distribution Channel
Retail Market Segmentation by Region
According to the global retail market analysis, the demand for food, groceries, and beverages from retail channels is significantly increasing. The rising health concerns are prompting retailers to offer local and fresh foods that are low-sodium, fat-free, and sugar-free. With growing customer demand for convenience, subscription services offering at-home delivery are gaining popularity. In addition, food and grocery retailers are leveraging technologies like automation and AI to enhance their efficiency and streamline operations while improving in-store shopping experiences.
Online retail platforms are growing at a healthy pace due to their accessibility, flexibility, ease of interaction, and convenience, coupled with rising internet and smartphone ownership. Moreover, the internet is revolutionising the retail industry by allowing retailers to increase their audience from the local area to overseas. Reportedly, retail e-commerce sales reached USD 5.7 trillion in 2022.
In the forecast period, online retailers are expected to deploy innovative technologies such as VR, AR, and generative AI to offer customers a personalised and immersive experience while streamlining their operations. The incorporation of augmented reality allows consumers to visualise the selected items.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The market players are increasing their collaboration efforts and are leveraging advanced technologies, including AI and AR, to gain a competitive edge in the market.
Walmart, Inc.
Walmart, headquartered in Arkansas, the United States, is an omnichannel retailer that supports customers to save money and live a better life. With an employee of 2.1 million individuals, the company’s 10,500 stores and e-commerce websites are visited by nearly 240 million customers and members.
Costco Wholesale Corporation
Costco is a prominent retailer that operates warehouse clubs in 11 countries. Its warehouses support medium and small-sized businesses to purchase and resale products. It offers one of the largest and exclusive categories of different products, including housewares, sporting goods, tyres, health and beauty products, office equipment, groceries, and television and electronic goods, among others.
JD.com, Inc.
JD. com forayed into the e-commerce market in 2004, and since has established its position as a prominent Chinese e-commerce player. Its business encompasses sectors such as logistics, insurance, technology, healthcare, and industrial solutions, among others.
Other players in the retail market include Amazon.com, Inc., The Home Depot, Inc., The Kroger Co., Walgreens Boots Alliance, Inc., Alibaba Group Holding Limited, Target Corporation, Lowe's Companies, Inc., The Schwarz Group, Koninklijke Ahold Delhaize N.V., Carrefour Group, and Auchan Retail International.
With the increasing demand for convenient and enjoyable shopping experiences among customers, key players are utilising different technologies such as artificial intelligence (AI), customer vision technology, and augmented reality (AR) to create an interconnected, frictionless, and customer-centric retail channel. Retailers are also attempting to bridge the gap between their stock inventory and on-shelf availability to prioritise tasks and improve customer experience.
The Asia Pacific accounts for a significant portion of the retail market share due to economic growth in countries like India and China, coupled with rising disposable incomes. The rising tourism activities in countries such as Singapore, Thailand, and South Korea, among others, are driving the demand for luxury goods, electronics, and apparel.
With the online retail sector in the region flourishing amid the rising customer demand for convenience, investments in e-commerce channels are significantly rising. For instance, in January 2024, Konvy, a leading Thai online beauty e-commerce platform, secured a funding of USD 11 million from New Day Ventures Limited, Insignia Ventures Partners, and Alibaba International to support its expansion in Southeast Asia.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Product |
|
Breakup by Sector |
|
Breakup by Distribution Channel |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Retail Market Analysis
8.1 Key Industry Highlights
8.2 Global Retail Historical Market (2018-2023)
8.3 Global Retail Market Forecast (2024-2032)
8.4 Global Retail Market by Product
8.4.1 Food, Beverage, and Grocery
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Personal and Household Care
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Apparel, Footwear, and Accessories
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Furniture and Home Décor
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Toys, Hobby, and Household Appliances
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Industrial and Automotive
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Electronic, Consumer Durables and IT
8.4.7.1 Historical Trend (2018-2023)
8.4.7.2 Forecast Trend (2024-2032)
8.4.8 Pharmaceuticals
8.4.8.1 Historical Trend (2018-2023)
8.4.8.2 Forecast Trend (2024-2032)
8.4.9 Others
8.5 Global Retail Market by Sector
8.5.1 Organised
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Unorganised
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Retail Market by Distribution Channel
8.6.1 Supermarkets and Hypermarkets
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Convenience Stores
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Speciality Stores
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Online
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Retail Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Retail Market Analysis
9.1 Market by Product
9.2 Market by Sector
9.3 Market by Distribution Channel
9.4 Market by Country
9.4.1 United States of America
9.4.1.1 Historical Trend (2018-2023)
9.4.1.2 Forecast Trend (2024-2032)
9.4.2 Canada
9.4.2.1 Historical Trend (2018-2023)
9.4.2.2 Forecast Trend (2024-2032)
10 Europe Retail Market Analysis
10.1 Market by Product
10.2 Market by Sector
10.3 Market by Distribution Channel
10.4 Market by Country
10.4.1 United Kingdom
10.4.1.1 Historical Trend (2018-2023)
10.4.1.2 Forecast Trend (2024-2032)
10.4.2 Germany
10.4.2.1 Historical Trend (2018-2023)
10.4.2.2 Forecast Trend (2024-2032)
10.4.3 France
10.4.3.1 Historical Trend (2018-2023)
10.4.3.2 Forecast Trend (2024-2032)
10.4.4 Italy
10.4.4.1 Historical Trend (2018-2023)
10.4.4.2 Forecast Trend (2024-2032)
10.4.5 Others
11 Asia Pacific Retail Market Analysis
11.1 Market by Product
11.2 Market by Sector
11.3 Market by Distribution Channel
11.4 Market by Country
11.4.1 China
11.4.1.1 Historical Trend (2018-2023)
11.4.1.2 Forecast Trend (2024-2032)
11.4.2 Japan
11.4.2.1 Historical Trend (2018-2023)
11.4.2.2 Forecast Trend (2024-2032)
11.4.3 India
11.4.3.1 Historical Trend (2018-2023)
11.4.3.2 Forecast Trend (2024-2032)
11.4.4 ASEAN
11.4.4.1 Historical Trend (2018-2023)
11.4.4.2 Forecast Trend (2024-2032)
11.4.5 South Korea
11.4.5.1 Historical Trend (2018-2023)
11.4.5.2 Forecast Trend (2024-2032)
11.4.6 Australia
11.4.6.1 Historical Trend (2018-2023)
11.4.6.2 Forecast Trend (2024-2032)
11.4.7 Others
12 Latin America Retail Market Analysis
12.1 Market by Product
12.2 Market by Sector
12.3 Market by Distribution Channel
12.4 Market by Country
12.4.1 Brazil
12.4.1.1 Historical Trend (2018-2023)
12.4.1.2 Forecast Trend (2024-2032)
12.4.2 Argentina
12.4.2.1 Historical Trend (2018-2023)
12.4.2.2 Forecast Trend (2024-2032)
12.4.3 Mexico
12.4.3.1 Historical Trend (2018-2023)
12.4.3.2 Forecast Trend (2024-2032)
12.4.4 Others
13 Middle East and Africa Retail Market Analysis
13.1 Market by Product
13.2 Market by Sector
13.3 Market by Distribution Channel
13.4 Market by Country
13.4.1 Saudi Arabia
13.4.1.1 Historical Trend (2018-2023)
13.4.1.2 Forecast Trend (2024-2032)
13.4.2 United Arab Emirates
13.4.2.1 Historical Trend (2018-2023)
13.4.2.2 Forecast Trend (2024-2032)
13.4.3 Nigeria
13.4.3.1 Historical Trend (2018-2023)
13.4.3.2 Forecast Trend (2024-2032)
13.4.4 South Africa
13.4.4.1 Historical Trend (2018-2023)
13.4.4.2 Forecast Trend (2024-2032)
13.4.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Walmart Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Amazon.com, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Costco Wholesale Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 The Home Depot, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 JD.com, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 The Kroger Co.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Walgreens Boots Alliance, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Alibaba Group Holding Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Target Corporation
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Lowe's Companies, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 The Schwarz Group
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Koninklijke Ahold Delhaize N.V.
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Carrefour Group
15.2.13.1 Company Overview
15.2.13.2 Product Portfolio
15.2.13.3 Demographic Reach and Achievements
15.2.13.4 Certifications
15.2.14 Auchan Retail International
15.2.14.1 Company Overview
15.2.14.2 Product Portfolio
15.2.14.3 Demographic Reach and Achievements
15.2.14.4 Certifications
15.2.15 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Retail Market: Key Industry Highlights, 2018 and 2032
2. Global Retail Historical Market: Breakup by Product (USD Million), 2018-2023
3. Global Retail Market Forecast: Breakup by Product (USD Million), 2024-2032
4. Global Retail Historical Market: Breakup by Sector (USD Million), 2018-2023
5. Global Retail Market Forecast: Breakup by Sector (USD Million), 2024-2032
6. Global Retail Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
7. Global Retail Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
8. Global Retail Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Retail Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Retail Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Retail Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Retail Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Retail Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Retail Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Retail Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Retail Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Retail Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Retail Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Retail Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Retail Market Structure
In 2023, the global retail market attained a value of nearly USD 23 trillion.
The major market drivers are rising population, growing smartphone penetration, and the ever-increasing usage of internet across the globe.
The key trends in the market are rapid technological innovations and increasing popularity of augmented reality among retailers.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major products considered in the market report include food, beverage and grocery, personal and household care, apparel, footwear, and accessories, furniture and home décor, toys, hobby, and household appliances, industrial and automotive, electronic, consumer durables and IT, and pharmaceuticals, among others.
The different segments based on sector considered in the market report include organised and unorganised.
The various distribution channels in the market include supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.
The major players in the market are Walmart Inc., Amazon.com, Inc., Costco Wholesale Corporation, The Home Depot, Inc., JD.com, Inc., The Kroger Co., Walgreens Boots Alliance, Inc., Alibaba Group Holding Limited, Target Corporation, Lowe's Companies, Inc., The Schwarz Group, Koninklijke Ahold Delhaize N.V., Carrefour Group, and Auchan Retail International, among others.
Mini Report
Single User License
Five User License
Corporate License
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.